Chad's $30 Billion Investment Plan Aims for Transformative Growth

Chad's ambitious national development plan aims for $30 billion in investments, focusing on digitalization and infrastructure with support from the IMF and World Bank. Set to launch in Abu Dhabi, the initiative seeks to boost growth, reduce poverty, and elevate the mining sector's GDP share by 2030.

Chad is gearing up to attract $30 billion in public and private investments as part of its national development strategy. The initiative, termed 'Chad Connection 2030,' is endorsed by the International Monetary Fund (IMF) and the World Bank. Finance Minister Tahir Hamid Nguilin highlighted this on Tuesday.

Scheduled for a September launch in Abu Dhabi, the plan aims to secure partnerships with investors in critical sectors such as roads, electricity, and the digital economy. The strategic investment is projected to foster an average annual economic growth rate of 8% between 2025 and 2030.

The initiative also focuses on reducing poverty and maternal mortality by 50% while doubling agricultural output. Furthermore, the government intends to issue exploration permits to private entities in the oil and mining arenas, aiming to grow the mining sector's GDP contribution to at least 5% by 2030.

(With inputs from agencies.)